Grana y Montero - Presentacion Corporativa 4T2016
Grana y Montero - Presentacion Corporativa 4T2016
Grana y Montero - Presentacion Corporativa 4T2016
Presentacin Corporativa
Programa de
Otros
Reputacin, confianza y estndares de gobierno 14.9%
ADSs
40.2%
corporativo ms altos
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reas de negocio
Compaa ms grande de Ingeniera y Concesionaria de Infraestructura Mayor desarrollador inmobiliario Lder en O&M de Infraestructura y
Construccin en Per lder en Per en Per servicios complementarios
Ventas por rea de negocio 2016 EBITDA por rea de negocio 2016 Utilidad Neta por rea de negocio 2016
Inmobiliaria Ingeniera y
7% Ingeniera y
Ingeniera y Inmobiliaria Construccin
Inmobiliaria Construccin
Servicios Construccin 20% 2%
23% 25%
16% 62%
Infraestructura
Servicios Infraestructura
15%
15% 55%
Servicios
24%
Infraestructura
37%
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Infraestructura
Hechos Relevantes:
GyM Ferrovas firm la adenda del contrato de para la ampliacin de la Lnea 1 del Metro Ventas EBITDA
de Lima por US$ 410 millones
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Inmobiliaria
Ventas y EBITDA
Principales Compaas : (US$ en millones)
140 122 300
Millares
120 112
Viva GyM: Desarrollo inmobiliario 250
100 94
Almonte: Propietaria de un terreno de 800 Has. a 30 km de Lima, en Lurn 200
75
80
63 150
Viviendas de inters social en ejecucin: 60
Parques del Callao, Parque Comas 48 100
40 50
36 29
Parques de Piura, Nuevo Chimbote, Parques de Huancayo (Provincias) 24 50
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Viviendas en ejecucin:
0 0
2012 2013 2014 2015 2016
El Nuevo Rancho y Klimt (San Isidro)
Ventas EBITDA
Proyectos comerciales en ejecucin: 2012 2013 2014 2015 2016
Oficinas Real Dos y Panorama (oficinas) Unidades
entregadas 1,368 1,757 831 833 938
Unidades
vendidas 2,017 1,134 642 903 1,720
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Servicios
Principales Compaas: Ventas y EBITDA
GMD: Proveedor de servicios de tecnologa de la informacin y soluciones de negocio a (US$ en millones)
travs de: (i) integracin de sistemas, (ii) tercerizacin de tecnologa de la informacin,
(iii) tercerizacin de aplicaciones; y (iv) tercerizacin de procesos de negocio. 450 425 418 300
404 395
Millares
Concar: Mantenimiento y Operacin de Concesiones de Infraestructura. Actualmente 400
337 250
opera ms de 5,000 km de carreteras, en adicin al Metro de Lima. 350
CAM: Ofrece servicios de campo y servicios principalmente de electricidad en Chile,
300 200
Colombia, Brasil y Per.
250
Adexus: Proveedor de servicios de tecnologa de la informacin con presencia en Per, 150
200
Ecuador, Argentina y Colombia
150 44 100
100 39 41
Hechos Relevantes:
33 50
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Concar obtuvo dos contratos de gestin de servicios y mantenimiento de carreteras con50
Provas Nacional por US$ 99.6 millones 0 0
2012 2013 2014 2015 2016
CAM Colombia obtuvo un contrato con Electricaribe por US$ 63 millones en enero 2016
CAM obtuvo un contrato de servicio de obras de mantenimiento para EDELNOR por
US$ 48 millones Ventas EBITDA
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Financial
DesempeoPerformance
Financiero
Financial Performance
Presentacin Corporativa 1T2016
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Resultados Consolidados
Ventas Consolidadas (*) Utilidad Neta Consolidada (*)
(US$ en millones) (US$ en millones)
2,500
120
2,000 100
80
1,500
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Inversiones
Inversiones Inversiones por rea de Negocio 2016
(US$ en miles) %
Ingeniera y Construccin
14%
Infraestructura
Holding 18%
54%
385,477
352,293
292,421 277,756
232,324 Inmobiliario
6.4%
Servicios
8%
2012 2013 2014 2015 2016
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Deuda Financiera
Vencimiento de Deuda Financiera 2016
(US$ en miles)
Peso colombiano
2%
Peso chileno
Holding 6%
17% Ingeniera y
Construccin
28%
Inmobiliario
8%
Sol
Dlares
54%
38%
Servicios
8%
Infraestructura
39%
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Composicin de la Deuda
Deuda Financiera
Capital de Trabajo + Leasing 398,651 459,798 525,166 421,550 427,421 386,857 396,888 380,938
Deuda de proyectos 297,079 298,386 307,522 302,936 321,330 323,303 337,238 336,439
I&C + Inmobiliaria + Servicios 182,291 169,397 132,588 140,858 141,138 148,303 169,016 111,875
Ratios
Deuda /Ebitda (I&C + Inmobiliaria + Servicios) 2.19 2.71 3.96 2.99 3.03 2.61 2.35 3.41
Deuda/Ebitda (Infraestructura) 3.13 3.08 3.22 3.82 4.78 5.33 5.88 5.99
Deuda/Ebitda Consolidado 2.51 2.85 3.65 3.31 3.72 3.58 3.50 4.49
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Backlog
Servicios
22%
Inmobiliaria
US$ 4,500 MM
US$ 404 MM 2%
US$ 448 MM
US$ 394 MM 2.50
US$ 4,000 MM US$ 580 MM Ingeniera y
Construccin
US$ 693 MM 50%
2.25 Infraestructura
US$ 3,500 MM
2.13 2.00 25%
2.03
1.95
US$ 3,000 MM 1.85
Cost plus
US$ 1,000 MM Fee
0.50 44%
US$ 500 MM Suma Alzada
17%
US$ 0 MM 0.00
2012 2013 2014 2015 2016
5% 4%
25% Proy. Mineros
14% 1%
4% 21%
Privado 24% 14% Op. Mineras
5% 26%
Petrleo y Gas
7%
3% Electricidad
Pblico
11% 9% Agua y Desage
64% Inmobiliaria
81% 9%
Concesiones 36%
22% Transporte
3%
12% Otros
1%
13%
3%
29% 9% Per
10% 7%
Chile
No relacionados
43% Construccin Colombia
57%
Otros (Panam,
Construccin
Bolivia, etc.)
81%
71% 76%
(*) El crculo externo corresponde a data de diciembre 2016, mientras que el crculo interno corresponde a data de diciembre 2015
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Backlog y negocios recurrentes
(US$ en miles)
Negocios Recurrentes
GMP 327,080 113,753 261,163 18,586 55,699 29,359 157,519 474,490 139,881 156,637 177,972
Norvial 147,274 64,363 160,716 46,609 11,107 51,818 51,182 243,627 71,977 91,261 80,388
Eliminaciones -26,117 -54,973 -54,169 -10,657 -444 -19,806 -23,260 -25,313 -8,438 -8,438 -8,438
Total 448,237 123,143 367,710 54,538 66,362 61,370 185,440 692,804 203,421 239,461 249,923
Market Cap (US$ MM) 615.2 Market Cap (US$ MM) 615.2
Promedio diario negociado (3m) (US$ MM) 1.7 Promedio diario negociado (3m) (US$ MM) 1.7
15-Dec-15
29-Dec-15
14-Jun-16
28-Jun-16
01-Nov-16
15-Nov-16
29-Nov-16
13-Dec-16
27-Dec-16
12-Jul-16
26-Jul-16
04-Oct-16
18-Oct-16
09-Feb-16
23-Feb-16
05-Apr-16
19-Apr-16
06-Sep-16
20-Sep-16
03-May-16
17-May-16
31-May-16
09-Aug-16
23-Aug-16
12-Jan-16
26-Jan-16
08-Mar-16
22-Mar-16
10-Jan-17
24-Jan-17
GRAMONC1 GRAM US
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Unsaved Document / 12/11/2012 / 14:08
Appendix
Apndice
Appendix
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Visin y objetivos estratgicos
Mantener y reforzar nuestra posicin como el contratista lder para proyectos complejos en Per y en
2
otros mercados claves
67.0%
Concesin de pista
51.0%
Operacin y Mantenimiento
de gasoductos
(1) 36.10% del capital en Viva GyM pertenece a nuestra subsidiaria GyM. 21
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Resultados Consolidados
9,000 Ventas Consolidadas (*) Utilidad Neta Consolidada (*)
8,000 (en millones soles) 350 (en millones soles)
7,000
300
6,000
250
5,000
200
4,000 7,832
7,009 320
3,000 5,968 6,055 150 290 300
5,232
2,000 100
1,000 50 89
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2012 2013 2014 2015 2016 -
2012 2013 2014 2015 2016
Balance General
2012 2013 2014 2015 2016
(Miles US$)
Total Activo 1,957,125 2,257,824 2,586,116 2,632,817 2,836,569
Ca ja 305,807 343,138 273,805 162,321 184,826
Deuda Fina nciera Bruta 331,429 284,629 586,008 754,599 865,198
Pa trimonio Total 696,547 1,143,362 1,063,875 932,624 929,958
Ratios Financieros
Ratios Financieros
60,000
50,000
40,000
30,000
20,000
10,000
0
Diciembre 2012 Diciembre 2013 Diciembre 2014 Diciembre 2015 Marzo 2016 Junio 2016 Setiembre 2016 Diciembre 2016
(1) El nmero de obreros que forman parte de nuestra base de 40,000 obreros vara en relacin al nmero y tamao de los proyectos que tenemos en proceso, en un tiempo determinado.
(2) Incluyen ingenieros, profesionales, especialistas tcnicos u obreros empleados por nuestras operaciones conjuntas (consorcios).
(3) Ocasionalmente subcontratamos para aspectos particulares de nuestros proyectos, tal como carpinteros, especialistas en instalaciones de elevadores y especialistas en vidriera. No somos dependientes de
ningn subcontratista o grupo de subcontratistas.
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Gobierno Corporativo
Graa y Montero (GRAMONC1) est listada en la BVL desde Directores Internos Directores Independientes
1997 y en el NYSE desde Julio 2013 (GRAM)
GRAMONC1 est incluida en el ndice de Gobierno Corporativo Hernando Graa Acua Pedro Pablo Errazuriz
de la BVL
Mario Alvarado Pflucker Federico Cneo de la Piedra
Directorio
El Gerente General Corporativo es parte del Directorio Jos Graa Miro Quesada Hugo Santa Mara Guzmn
Los Comits del Directorio son integrados en su mayora
por Directores Externos Carlos Montero Graa Mark Hoffmann Rosas
Las Subsidiarias tienen mnimo un (1) Director Externo en
su Directorio
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Disclaimer
Forward-looking statements
This presentation contains forward-looking statements. Forward-looking statements convey our current expectations or forecasts of future events. These
statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to differ
materially from the forward-looking statements that we make. Forward-looking statements typically are identified by words or phrases such as may, will,
expect, anticipate, aim, estimate, intend, project, plan, believe, potential, continue, is/are likely to, or other similar expressions. Any or all of
our forward-looking statements in this presentation may turn out to be inaccurate.
Our actual results could differ materially from those contained in forward-looking statements due to a number of factors, including, among others: global
macroeconomic conditions, including commodity prices, and economic, political and social conditions in the markets in which we operate, particularly in Peru;
major changes in Peruvian government policies at the national, regional or municipal levels, including in connection with infrastructure concessions,
investments in infrastructure and affordable housing subsidies; social conflicts in Peru that disrupt infrastructure projects, particularly in the mining sector;
interest rate fluctuations, inflation and devaluation or appreciation of the nuevo sol in relation to the U.S. dollar (or other currencies in which we receive
revenue); our ability to continue to grow our operations, both in Peru and internationally; the level of capital investments and financings available for
infrastructure projects of the types that we perform, both in the private and public sectors; competition in our markets, both from local and international
companies; our ability to complete acquisitions on favorable terms or at all and to integrate acquired businesses and manage them effectively post-
acquisition; performance under contracts, where a failure to meet schedules, cost estimates or performance targets on a timely basis could result in reduced
profit margins or losses and impact our reputation; developments, some of which may be beyond our control, that affect our reputation in our markets,
including a deterioration in our safety record; industry-specific operational risks, such as operator errors, mechanical failures and other accidents; availability
and costs of energy, raw materials, equipment and labor; our ability to obtain financing on favorable terms; our ability to attract and retain qualified personnel;
our ability to enter into joint operations, and rules involved in operating under joint operation or similar arrangements; our exposure to potential liability claims
and contract disputes, including as a result of environmental damage alleged to have been caused by our operations; our and our clients compliance with
environmental, health and safety laws and regulations, and changes in government policies and regulations in the countries in which we operate; negotiations
of claims with our clients of cost and schedule variances and change orders on major projects; volatility in global prices of oil and gas; the cyclical nature of
some of our business segments; limitations on our ability to operate our concessions profitably, including changes in traffic patterns, and limitations on our
ability to obtain new concessions; our ability to accurately estimate the costs of our projects; changes in real estate market prices, customer demand,
preference and purchasing power, and financing availability and terms; our ability to obtain zoning and other license requirements for our real estate
development; changes in tax laws; natural disasters, severe weather or other events that may adversely impact our business; and certain other factors
disclosed in our registration statement on Form F-1 on file with the SEC.
The forward-looking statements in this presentation represent our expectations and forecasts as of the date of this presentation. Except as required by law,
we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise,
after the date of this presentation. In light of the risks and uncertainties described above, the future events and circumstances discussed in this presentation
might not occur and are not guarantees of future performance.
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Contactos:
Mnica Miloslavich
Gerente Corporativa de Finanzas
(511) 213 6565
[email protected]
Samantha Ratcliffe
Jefe de Relacin con Inversionistas
(511) 213 6573
[email protected]
[email protected]
www.granaymontero.com.pe